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Equities research analysts at Aegis hoisted their target price on shares of CytRx (NASDAQ:CYTR) from $9.00 to $12.00 in a research note issued to investors on Thursday, Stock Ratings Network.com reports. The firm currently has a “buy” rating on the stock. Aegis’ price target would indicate a potential upside of 66.20% from the stock’s previous close.

CytRx (NASDAQ:CYTR) traded down 3.05% on Thursday, hitting $7.00. 531,000 shares of the company’s stock traded hands. CytRx has a 52-week low of $1.83 and a 52-week high of $8.24. The stock’s 50-day moving average is $5.55 and its 200-day moving average is $3.20. The company’s market cap is $293.8 million.

CytRx (NASDAQ:CYTR) last announced its earnings results on Tuesday, October 29th. The company reported ($0.33) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.22) by $0.11. During the same quarter last year, the company posted $0.07 earnings per share. On average, analysts predict that CytRx will post $-0.79 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on CYTR. Analysts at Thomson Reuters/Verus downgraded shares of CytRx from a “hold” rating to a “sell” rating in a research note to investors on Tuesday, December 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. CytRx currently has a consensus rating of “Hold” and a consensus price target of $6.95.

CytRx Corporation as (NASDAQ:CYTR) is a biopharmaceutical research and development company engaged in the development of high-value human therapeutics, specializing in oncology.

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